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Does a worker who had a successful career have stronger or weaker incentives to manipulate his reputation than a worker … worker's incentives depends on his employment history (the history of his past actions, jobs, and performances). More … concerns. Equilibrium wages, equilibrium job assignments, and the strength of career-concern incentives are the same for all …
Persistent link: https://www.econbiz.de/10013096875
This paper analyzes the impact of market structure on career concerns. Effort increases the probability that a skilled agent achieves a one-time breakthrough. Wages are based on assessed ability and on expected output. For any wage, the agent works too little, too late. Under short-term...
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information to influence incentives and matching efficiency. If the initial employer can use long-term complete contracts, perfect …
Persistent link: https://www.econbiz.de/10012731679
In a model where investors face uncertainty about the prevalence of skill among money managers, managers' collective performance carries information about the quality of the managerial pool. When peers perform well, investors correctly infer that even moderately-performing managers are more...
Persistent link: https://www.econbiz.de/10012935480
Confidence in one's own abilities is often seen as an important determinant of being successful. Empirical evidence about how such beliefs about one's own abilities causally influence choices is, however, sparse. In this paper, we use a stylized laboratory experiment to investigate the causal...
Persistent link: https://www.econbiz.de/10012824167
In this paper we investigate the negative relationship between analysts' coverage and stocks idiosyncratic volatility. While prior research argues that analysts cause the low level of idiosyncratic risk because they lack access to firm-specific information we hypothesize that the causal relation...
Persistent link: https://www.econbiz.de/10013004785
Confidence is often seen as the key to success. Empirical evidence about whether such beliefs causally map into actions is, however, sparse. In this paper, we experimentally investigate the causal effect of an increase in confidence about one's own ability on two central choices made by workers...
Persistent link: https://www.econbiz.de/10012853138